Entropy Technologies LP Decreases Stake in Suncor Energy Inc. $SU

Entropy Technologies LP reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 50.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,812 shares of the oil and gas producer’s stock after selling 50,068 shares during the period. Entropy Technologies LP’s holdings in Suncor Energy were worth $2,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss Life Asset Management Ltd boosted its position in shares of Suncor Energy by 35.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock worth $4,240,000 after buying an additional 26,252 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Suncor Energy by 314.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock worth $26,246,000 after buying an additional 476,077 shares in the last quarter. Intact Investment Management Inc. boosted its position in shares of Suncor Energy by 36.3% in the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock worth $75,236,000 after buying an additional 451,110 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Suncor Energy by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock worth $37,519,000 after buying an additional 18,231 shares in the last quarter. Finally, SCP Investment LP purchased a new stake in shares of Suncor Energy in the 3rd quarter worth about $1,915,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 3.2%

NYSE SU opened at $59.61 on Tuesday. Suncor Energy Inc. has a 12 month low of $37.22 and a 12 month high of $70.29. The company has a 50-day moving average of $64.81 and a 200-day moving average of $56.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The company has a market cap of $70.38 billion, a P/E ratio of 15.64 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company earned $1.31 EPS. As a group, equities analysts predict that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.0%. Suncor Energy’s dividend payout ratio is currently 45.67%.

Analyst Upgrades and Downgrades

SU has been the subject of several analyst reports. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.